How does exchange referral bonuses work?

[Smcchamp]

It's a cold Saturday in my part of the world, with BTC ranging around $60k. The market seems indecisive at the moment, but that's not why I'm here. A friend asked me how exchange referral bonuses work, what percentage is earned per referral, and other details involved. Since I have no idea, I decided to bring it here for experienced altcoin talkers to share their insights.

[ABCbits]

1. Which exchange you're talking about?
2. Have you tried looking for this information using Google search? For example, using "okex referral" on google search leads me to https://www.okx.com/help/what-is-okx-referral-program which shows you could get mysterious reward along with it's terms of service.

[Sim_card]

I don't believe in referral bonus but I believe it depends on the exchange and its term of service, as exchanges are not the same. You should check it out on Google for proper information on the referral bonus based on the exchange that your friend wants to use. I use Binance and I love their referral bonus not too bad anyway.

[yhiaali3]

As the members mentioned above, the profit from referral varies from one exchange to another, but in general the percentage of profits ranges from 20-40% of the revenues of each user you refer.

But of course, you must know that profits are only made on real trades, because the profits are from trading commissions, and therefore if your friend only registers without any trading, you will not get any profits, just as if he only withdraws and deposits.

[Charles-Tim]

I don't believe in referral bonus but I believe it depends on the exchange and its term of service, as exchanges are not the same. You should check it out on Google for proper information on the referral bonus based on the exchange that your friend wants to use. I use Binance and I love their referral bonus not too bad anyway.

Many exchanges, especially the well known ones are paying good amount of money if you refer people to their exchange. I think some exchanges even pay referrals certain percentage of money they earn from the person that was referred and joined the exchange. I mean percentage of the person's trading fee anytime he is trading. But rules depends from exchanges to exchanges. That is why it is better to read the terms and conditions of referral programs in each exchanges.

[bee]

Afaik, the largest referral reward percentage on some top exchanges is 30% based on the first successful deposit or purchase. The reward distribution also varies depending on the exchange, some are fixed (offering 50:50 between referrer and referral), flexible (user-adjustable), and random like mystery prizes. The rewards will be in the form of exchange-specific tokens or stablecoins.

[Yamane_Keto]

Referral links are the platform's way of promoting its services. We trust the friends or influencers around us, so the chance of us accepting to join the platform after their invitation is great. Therefore, the return from these links varies according to the ability of the platform, the transactions made by the traders, and the profits of the platform.

Afaik, the largest referral reward percentage on some top exchanges is 30% based on the first successful deposit or purchase.

This is too much.

[Charles-Tim]

Afaik, the largest referral reward percentage on some top exchanges is 30% based on the first successful deposit or purchase.

Which exchange is that? I have not seen this before. So if you invite someone and the person deposited $1 million, you will be given $300000. Can you see how that is not possible. Probably the exchange that you saw it could have been an exchange that belongs to scammers. There are many fake exchanges that scammers have.

[snowpega]

I have never used this system of earning from referrals but I was thinking of it this morning... after that, I dropped the plan as the idea was kind of not good, I was thinking that I can register more accounts from my family members details and can create more times and earn some money using my referrals but just for the sake of some money and sharing information is not a good idea haha, well I also come to know one more thing after reading rules that we can not earn from those referrals from those accounts which are created on the same proxy or internet connection.

if I am not wrong the exchange name is Okex if anyone here has earned any amount from referrals? as I already mentioned I have never earned any kind of bonus from referrals of exchanges so no idea... if anyone has an idea about it here must share with me. Many Thanks!

[AGM]

Different crypto exchange platforms often offer different bonuses. They take such initiatives mainly to bring new users to their platform. Moreover, they also adopt incentive strategies to increase trading activity on their platform. Those who participate in such bonuses or various offers should read the terms and conditions of those offers well. There are many people who participate in these promotion without reading the conditions and complain when they won't be eligible. Those who will work must know each of the thing well and then work. Remember that if any of the conditions are wrong then it can be waste of time.